Saudi Arabia’s NHC launches Al Fursan Suburb in northeast Riyadh
The new suburb will offer a ‘new concept of housing and modern styles that carry the spirit of architectural originality’
Saudi Arabia’s National Housing Company (NHC) has launched Al Fursan, the company’s largest, new residential suburb in the northeast of Riyadh, and confirmed the launch of the second phase of its Khuzam Suburb.
The launch represents the largest real estate supply in the capital city, with Al Fursan spanning an area of over 35m sqm alone. This will include more than 50,000 residential units of various types, as well as more than 190 vital facilities and commercial centres. These will all be surrounded by six million square metres of green space, the company added.
Prince Faisal bin Bandar bin Abdulaziz, the Governor of Riyadh region, unveiled the project at a ceremony attended by a number of dignitaries, including the Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al Hogail, as well as other senior government officials.
Speaking at the launch, Prince Faisal highlighted the support provided to the housing sector by the Kingdom’s leadership, and also praised the Ministry of Housing and NHC for its work in helping provide decent living standards to Saudi citizens.
In early March 2022, the NHC launched a new residential project in Makkah for citizens and, in early October 2022, DGDA and NHC said they would collaborate on mutual areas that serve the housing sector.
Mohammed bin Salih Al Batti, NHC Chief Executive Officer, said that the new suburb comes with a ‘new concept of housing and modern styles that carry the spirit of architectural originality with global standards that meet quality of life requirements’. He added that these residential units will provide a unique experience for residents, with gardens, green spaces, and integrated services.
Al Fursan, he added, was the largest project, in terms of the area and number of housing units, that NHC is implementing in partnership with real estate developers. “We plan to launch the second phase of the Khuzam suburb in the near future,” he explained.
A total of 18 investment agreements worth more than US $6.4bn were signed by NHC and the Ministry of Housing with leading real estate developers for the Al Fursan suburb’s projects.
In mid February 2023, Saudi Arabia’s Crown Prince launched the New Murabba Development Company to develop world’s largest modern downtown in Riyadh.
